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ZIMBABWE

Biti released disbursements totalling over $51,5 million in 3 months

Tendai Biti, the Minister of Finance, has made capital disbursements totalling over US$51, 5 million to various critical sectors over the past three months.In his Treasury State of the Economy Rep...

By Ndou Paul | Published: 10 June 2013

POLITICS

'Zimplats objection not an issue' says govt

Government says the decision by Zimplats to lodge an objection on the compulsory acquisition of excess reserves from the firm will not deter the country from ensuring that it exploits the vast plati...

By Staff Reporter | Published: 10 June 2013

ZSE TODAY

ZSE:- Industrials stutters as key blue chips weaken

Industrials stuttered on Tuesday after giving in to losses in heavyweights Econet, Innscor and OK Zimbabwe while Delta closed unchanged after publishing a full year trading update.Minings however ma...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Delta Beverages revenue grows by 14%

Delta publishes full year trading update saying total beverage volumes closed the year flat on prior year as the growth in Lager beer, sparkling beverages and maheu was offset by the decline in sorg...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Zim government misses revenue target

ZIMBABWE missed its revenue target for the first quarter of the year, as Government warns this year's economic growth forecast may not be achieved.Finance Minister Tendai Biti said yesterday, in an ...

By Business Reporter | Published: 10 June 2013

ZIMBABWE

Zimbabwe's annual inflation rate drops

ZIMBABWE'S annual rate of inflation shed 0,22 percentage points on the February figure of 2,98 percent to 2,76 percent in March, the Zimbabwe National Statistics Agency has said.This means prices, a...

By Business Reporter | Published: 10 June 2013

ZIMBABWE

Gold plummets to its lowest level in more than two years

The price of gold is plummeting to its lowest level in more than two years.The gold spot price fell as much as 6% on Monday‚ hurting gold stocks which tumbled in excess of 10% to fresh multi-year ...

By AP | Published: 10 June 2013

BUSINESS NEWS

Imara expects big turnout at Zimbabwe investor conference

A large turnout of foreign delegates is expected to descend on the Zimbabwean capital of Harare for Imara's annual investor conference on June 3 and 4 as the event occurs on the probable run-in to t...

By Business reporter | Published: 10 June 2013

ZSE TODAY

ZSE:- Innscor sustains Industrials at week's opening

Gains in Innscor helped the Industrials manage modest gains on Monday as telecoms blue chip Econet continues to falter.The Industrials Index ended a marginal 0.11 points or 0.06% up at 188.43 as ga...

By Business reporter | Published: 10 June 2013

MINING & RETAIL

RioZim projects revenues of $185 million

RioZim expect revenues of $185 million in the year 2013 compared with $72 million last year whilst EBITDA is expected to be at $23 million compared with $7 million in 2012, group CEO Ashton Ndlovu t...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Powertel billing system to be ready by July

INTERNET provider PowerTel says it will start billing customers for the actual data accessed in July when the new billing system that was acquired last month has undergone the necessary tests to mak...

By Staff reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet to remain dominant in Zim telecoms sector

FINANCIAL and equity analysts, IH Securities, believe Econet Wireless will remain the dominant company in the telecommunications sector, despite seemingly losing about 9,3 percent of the market sha...

By Business reporter | Published: 10 June 2013

ZSE TODAY

ZSE shares rebound as heavyweights trade mixed at week's end

ZSE's heavily capitalised counters traded mixed on Friday with gains in Delta, Natfoods and OK Zimbabwe prevailing over losses in Econet and Innscor helping the indices to close in the positive terr...

By Business reporter | Published: 10 June 2013

POLITICS

Infighting rocks Zimplats Community Share Ownership Trust

Development projects for the Mhondoro-Ngezi-Chegutu-Zvimba community share ownership trust are in limbo due to infighting among the 12 chiefs and other trustees of the three districts covered by the...

By Staff reporter | Published: 10 June 2013

POLITICS

Kasukuwere not backing down on StanChart indigenisation

THE National Indigenisation and Economic Empowerment Board has written to Standard Chartered Bank Zimbabwe threatening to revoke its licence if the British-owned bank does not comply with the countr...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

'Closure of firms is nationwide,' says Eric Block

DE-INDUSTRIALISATION is affecting the whole country despite the misconception that Bulawayo is the only city being affected by the closure and relocation of firms to other towns, an official has sai...

By Business Reporter | Published: 10 June 2013

ZSE TODAY

ZSE:- Econet, Innscor drag Industrials lower

Losses in heavyweights Econet and Innscor dragged the Industrials lower for the second straight session on Thursday wiping out gains in Delta and Natfoods.The Minings sector also extended losses aft...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Trust Bank pulls out of ZimSwitch

Trust Bank lurched into crisis this week after it failed to produce full-year results to December 31 2012 before the deadline. The ZSE and the Securities Commission said this week letters had been ...

By Staff reporter | Published: 10 June 2013

MINING & RETAIL

Blanket Mine gold output up

Blanket Mine has recorded a 14% growth in gold output for the first quarter ending March 2012 compared with the same period last year on the back of strong prices of the bullion, the company has an...

By Business reporter | Published: 10 June 2013

ZIMBABWE

Zim's hyperinflation era profiled

THE Macroeconomic and Financial Management Institute for Eastern and Southern Africa is working on documenting Zimbabwe’s country hyper-inflationary era to provide insights on how the country deal...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Gono denies bank takeover

Central bank chief on Wednesday denied there were plans for a government takeover of the local operations of London-based Standard Chartered Bank, putting the central bank at odds with a powerful n...

By Sapa-dpa | Published: 10 June 2013

BUSINESS NEWS

Hwange Colliery suspends over 500 workers over salary dispute

Hwange Colliery Company is alleged to have suspended 525 workers following a salary dispute, among other issues.The employees are accusing management of unfairly dismissing five workers, threatening...

By Staff Reporter | Published: 10 June 2013

ZSE TODAY

ZSE shares wades back into negative territory

ZSE shares were back in the red on Wednesday as heavyweight counters Hippo and Innscor traded lower to snap the 5-day rising streak.The Industrials Index dropped by 0.64 points or 0.34% to 188.38 as...

By Business reporter | Published: 10 June 2013

OPINION

Biti wrongfully credited with the dollarisation of the Zim economy

Zimbabwe's economic growth since 2009 has been credited to Tendai Biti, the Minister of Finance's adoption of the US dollar and the South African rand as the official currencies, an international ...

By Staff reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Improved underwriting profits boosts TA Holding's performance

TA Holdings' operating income grew 234% to $5.5 million due to improved underwriting profits from the insurance company, CEO Gavin Sainsbury told an analysts briefing yesterday. This resulted ...

By Business reporter | Published: 10 June 2013

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